Berkshire Hathaway leader is already the largest shareholder in Western Petroleum and will now deepen the chemical business.
Berkshire Hathawaythe business conglomerate of the legendary investor Warren Buffettis close to specifying a U $ 10,000 million agreement to acquire the Western Petroleum Petrochemical Divisionaccording to sources close to negotiations. To achieve this, it would be the most relevant operation of the tycoon since 2022.
According to the Financial Times and The Wall Street Journal, Warren Buffett had already consolidated as the largest Western shareholder, with Houston headquarters. The last great purchase of Berkshire Hathaway was the insurer Alleghany, acquired in 2022 for US $ 11 billion.
The investor Warren Buffett bets on chemistry
In recent years, the company preferred to strengthen its liquidity through the sale of shares in companies such as Apple and Bank of America, instead of making significant acquisitions.
The sources indicated that negotiations to acquire Oxychem They could close in the next few days. If confirmed, this movement would mark the Second important investment of Buffett in the chemical sectorafter Lubrizol transaction by Berkshire in 2011.
Warren Buffett
Depositphotos
The interest in this operation grows, since Buffett, 95 and nicknamed the “Oracle of Omaha”, plans to leave his position as executive director at the end of the year, being Greg Abel his successor. Investors and analysts closely observe each step of the investor to anticipate the future strategy of Berkshire Hathaway
Financial record
Currently, the company has a record liquidity of US $ 344,000 millionwhile Western, with high levels of debt, was selling non -strategic assets to generate cash.
The high market assessments limited Buffett’s capacity, recognized for their value investment approach, to display its cash, even through shares of shares.
In the market, Western shares showed few changes after registering a 4% drop so far this year, while Berkshire titles fell about 1%, although they accumulate an increase of almost 10% since the beginning of 2025.
Source: Ambito
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